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- Crypto analyst and investor Lark Davis shares his thoughts on the current crypto market.
- He says the current crypto market is still in the accumulation zone.
- He makes this claim upon seeing how most coins are trading below their bull market value.
A reputed crypto analyst and investor shares his point of view about the current crypto market. To highlight, this crypto enthusiast says that the current crypto market is still very much in its accumulation zone.
The crypto market is still firmly in the accumulation zone. Top tier coins are still trading WAY below their bull market valuations, while at the same time in many ways these coins are better than they were back then.
— Lark Davis (@TheCryptoLark) July 17, 2023
IE more development, better tech, more use cases, more adopted pic.twitter.com/aUMnzVVT8u
As we can see from the tweet above, Lark Davis, a familiar and trusted face in the crypto sphere shares his viewpoint. Specifically, Davis says that it is still a good time to accumulate crypto assets.
He mentions how some may be feeling that the crypto sentiment may seem like it is too late to buy. This is more so a likely sentiment as many altcoins like XRP, MATIC, and more went through a minor price surge.
Yet, Davis points to the charts and makes it clear that almost all coins are still in their accumulation zone. In fact, he states that most top tier coins are still trading much lower than their bull market values.
In detail, he also highlights why it is a good time to accumulate. For instance, unlike before, most projects have only grown more solid. Back then, most projects were still in ideation and implementation phases.
Now, most projects have begun to introduce massive growth in its development plans, infrastructure, partnerships, and more. In addition, better and improved tech paired with real-world use cases have further improved their project value.
For example, XRP and Ripple have been adopted by many top-tier institutions and banks to process large real-time transactions at a rapid pace. Similarly, ALGO has just taken the spotlight for hosting many real-world utility projects.
Therefore, Davis concludes that most of these coins are way better than they were a few years ago. Thus, their true value potential is still being discovered. Even coins like SHIB that began as memes are working hard to build a sustainable ecosystem. Meanwhile, popular tokens like MATIC are also pushing their limits. It seems Davis makes a decent and fair judgement of the state of the current crypto market. One simply needs to remain calm and DYOR.